Kingswood Wealth Advisors LLC Trims Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Kingswood Wealth Advisors LLC has significantly reduced its holdings in Valero Energy Corporation by 70.8%, now owning only 3,323 shares worth approximately $447,000.
• Valero Energy's recent quarterly earnings report showed a profit of $2.28 per share, exceeding analysts' expectations and a revenue of $29.89 billion, despite a year-over-year decline in revenue.
• The company's dividend payout ratio has reached 188.33%, with a recently announced quarterly dividend of $1.13 per share, reflecting an annual yield of 2.8%.

Kingswood Wealth Advisors LLC lowered its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 70.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,323 shares of the oil and gas company's stock after selling 8,040 shares during the period. Kingswood Wealth Advisors LLC's holdings in Valero Energy were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. KLP Kapitalforvaltning AS boosted its holdings in Valero Energy by 0.3% in the second quarter. KLP Kapitalforvaltning AS now owns 226,561 shares of the oil and gas company's stock valued at $30,454,000 after purchasing an additional 700 shares during the last quarter. KPP Advisory Services LLC acquired a new stake in Valero Energy during the second quarter valued at approximately $283,000. Belpointe Asset Management LLC raised its stake in Valero Energy by 6.1% during the second quarter. Belpointe Asset Management LLC now owns 6,856 shares of the oil and gas company's stock valued at $922,000 after buying an additional 392 shares in the last quarter. Eads & Heald Wealth Management raised its stake in Valero Energy by 3.3% during the second quarter. Eads & Heald Wealth Management now owns 4,853 shares of the oil and gas company's stock valued at $652,000 after buying an additional 157 shares in the last quarter. Finally, PUREfi Wealth LLC acquired a new stake in Valero Energy during the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Down 0.3%

Shares of Valero Energy stock opened at $162.00 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The business's 50 day simple moving average is $152.95 and its 200-day simple moving average is $137.74. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 67.50, a PEG ratio of 1.73 and a beta of 1.05. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 EPS. Equities research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI upped their price objective on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research note on Friday, September 19th. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Morgan Stanley cut Valero Energy from an "overweight" rating to an "equal weight" rating and upped their price objective for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and upped their price objective for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $168.07.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.

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